Sociologist Randall Collins argues that for any endeavor to be successful, you have to pay attention to four quadrants: economic, political, social, and culture. That is, material and practical concerns, conflict and power, emotions and networks, and ideas.
These four quadrants may vary in relative importance, but all four must always be taken into consideration. The four can either reinforce each other and create a healthy system, or they can undermine each other and create an unhealthy system that may eventually collapse.
You also need to consider all four to have a complete understanding of the world. Leave one out, or insist that one dominates all others, and you have at best an incomplete understanding of the world.